Beruflich Dokumente
Kultur Dokumente
What is a Business?
Knowledge
For-Profit
Resources
Goods Services Job creation Tax-base Investments
Non-Profit
Education Libraries Museums Social services Charities Capital
Entrepreneurs
Categories of Business
Producing Goods Providing Services
Capital Intensive
Labor Intensive
What is Economics?
Microeconomics
Macroeconomics
Economic System
Factors of Production
Resources Capital Entrepreneurs
Knowledge
Economic Systems
Free-Market System
Planned System
Capitalism
Mixed Capitalism
Socialism
Communism
Privatization
Microeconomics
Supply: Specific quantity of a product that the seller is able and willing to provide Demand: Buyers willingness and ability to purchase products
Understanding Demand
Higher Lower
Consumer Income
Consumer Preferences
Price
Demand
Higher
Lower
Understanding Supply
Less Supply More
Variables
Variables
Lower
Price
Higher
Variables that affect supply and demand change simultaneously and continually, thus creating changes in the equilibrium price. Both production levels and prices reflect the interaction of supply and demand.
Macroeconomics
Free-Market Competition
Pure Competition
Monopoly
Oligopoly
Monopolistic Competition
Competitive Advantage
Price
Speed
Quality
Service Innovation
Fostering competition
Regulating industries
Deregulating industries
Protecting stakeholders rights
Fostering Competition
Antitrust Legislation Mergers and Acquisitions
Business Ethics
Government Regulation Free Competition
Recovery Fiscal Policy Business Cycle Recession Revenue and Spending Interest Rates Business Cycle Monetary Policy
Economic Contraction
Interest Rates
Unemployment Statistics
The aspect of terrorism China in the global economy Work mobility Deficits in budget and balance of trade E-business
Challenges of Globalization
Quality products and services Changing needs of customers Managing a small business Globalization and workforce diversity Ethics and social responsibility Technology and electronic commerce